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Macro dynamics
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The Beijing Climate Talks between China and the United States will be held
According to Tan Tian from Yuyuan, as agreed by both China and the United States, Podesta, Senior Advisor to the President on International Climate Policy, will visit China from September 4th to 6th and co chair the second meeting of the "Working Group on Strengthening Climate Action in the 2020s" with Liu Zhenmin, China's special envoy for climate change affairs. Both sides will have in-depth exchanges of views on practical cooperation under the China US working group, their respective domestic climate policy actions, and multilateral processes on climate change.
The net withdrawal of 471.3 billion yuan from the open market by the central bank
The central bank launched a RMB 1.2 billion 7-day reverse repurchase operation in the open market, with an operating interest rate of 1.70%, unchanged from the previous one. Due to the expiration of a 7-day reverse repurchase of 472.5 billion yuan today, a net withdrawal of 471.3 billion yuan was achieved.
The first comprehensive policy document related to the care and protection of migrant children at the national level has been issued
The Ministry of Civil Affairs and 21 other departments recently jointly issued the "Action Plan for Strengthening the Care and Protection of Migrant Children", proposing to promote the equalization of basic public services through conducting investigations, improving guarantee measures, and strengthening care services, in order to create a favorable environment for the healthy growth and comprehensive development of migrant children. This is the first comprehensive policy document specifically formulated for the care and protection of migrant children at the national level, effectively filling the policy gap in the field of livelihood security. The Plan specifies that by 2026, policies and systems related to migrant children will be further optimized and improved, care services will be more precise and effective, measures to benefit the people in key areas will be more equal and balanced, children's information records will be more accurate, grassroots foundations will be more solid and solid, and the overall level of care and protection for migrant children will be significantly improved.
Shanghai: Individual consumers will receive a subsidy of 15% of the sales price for purchasing household appliances, home decor, and home products such as sofas, mattresses, and cabinets that meet the requirements
The Implementation Plan of Shanghai Municipality on Further Intensifying Efforts to Promote the Trade in of Consumer Goods for New Products has been released. Among them, it is proposed to support the replacement of household appliances, home decoration, home furnishings, and aging friendly products. For individual consumers who purchase household appliances, home decoration, home furnishings, and anti-aging products that meet the requirements, such as sofas, mattresses, cabinets, bathtubs, toilets, floor cleaning robots, vacuum cleaners, air purifiers, etc., the specific product catalog will be clarified by the Municipal Commission of Commerce in conjunction with relevant departments. The related products are subsidized at 15% of the sales price. Consumers can use UnionPay cloud flash payment, Alipay, and WeChat payment to subsidize once each, and each subsidy does not exceed 2000 yuan.
Shanghai: The subsidy standard for scrapping and purchasing eligible new energy passenger vehicles has been raised to 20000 yuan. A subsidy of 15000 yuan will be provided for purchasing 2.0-liter and below displacement fuel passenger vehicles
The Implementation Plan of Shanghai Municipality on Further Intensifying Efforts to Promote the Trade in of Consumer Goods for New Products has been released. It is proposed to implement the national subsidy standards for automobile scrapping and renewal. On the basis of the "Implementation Rules for Subsidies for Replacing Old Vehicles with New Vehicles" (Shang Consumer Letter [2024] No. 75), individual consumers who scrap fuel passenger vehicles with emission standards of National III or below, or new energy passenger vehicles registered before April 30, 2018 (inclusive), and purchase new energy passenger vehicles included in the "Catalogue of New Energy Vehicle Models Exempted from Vehicle Purchase Tax" or fuel passenger vehicles with a displacement of 2.0 liters or below, will receive a subsidy of 20000 yuan for purchasing new energy passenger vehicles and 15000 yuan for purchasing fuel passenger vehicles with a displacement of 2.0 liters or below.
Will the HPV vaccine be included in the national immunization program? Response from the National Health Commission
The official website of the National Health Commission released the reply to the recommendations 358, 3582 and 5702 of the Second Session of the 14th National People's Congress. It is proposed that currently, HPV vaccination has not been included in the national immunization plan. Whether to establish a special fund for HPV vaccination subsidies at the provincial level will be determined by the relevant provinces based on their vaccination needs and their own financial situation. Whether the HPV vaccine will be included in the national immunization plan in the future will be determined based on rigorous research, taking into account the demand and the safety, efficacy, and accessibility of the vaccine itself.
The Dominican Republic claims not to have participated in the investigation into the US seizure of the Venezuelan President's plane
According to CCTV News, on September 2nd local time, the US Department of Justice announced the seizure of a plane belonging to Venezuelan President Maduro in the Dominican Republic. On the same day, Dominican Foreign Minister Alvarez stated that the Dominican government and prosecutor's office were not involved in the relevant investigation by the United States. Alvarez said that in May of this year, the Dominican Republic received an international legal cooperation request to detain a Dassault Falcon 900EX aircraft that was undergoing maintenance in the Dominican Republic at the time, in order for the United States to conduct relevant investigations. On September 2nd, the Dominican authorities received a new court order authorizing the delivery of the aircraft to the United States.
New Zealand significantly increases foreign tourist tax
The New Zealand government announced on the 3rd that starting from October 1st, the tourist tax levied on foreign tourists will be raised from the current 35 New Zealand dollars (about 155 yuan) to 100 New Zealand dollars (443 yuan).
Shanghai's largest residential community to fire property? Country Garden Service Response
In response to the news of "Shanghai's largest residential community firing properties", Country Garden Services stated that Shengfu Property, a subsidiary of Country Garden Services, had a service contract with Shanghai Kangcheng that began in 2013 and expired in June last year, but is still providing factual services. According to public information, the Shanghai Kangcheng Industrial Committee is currently soliciting opinions and planning to carry out the selection and employment of property management enterprises. Country Garden Services stated that the property management services provided by Shengfu Property did not meet the satisfaction of the owners and property committee of Shanghai Kangcheng. The company deeply apologizes and has conducted a thorough reflection at the group level, taking corrective measures.
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Financial institutions
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CEO of Nomura Asia Pacific Holdings: Full of Expectations for Opportunities in the Chinese Market
Kenji Toyoshima, CEO of Nomura Asia Pacific Holdings and Chairman of Nomura Holdings China Committee, stated at the 16th Nomura China Investment Annual Conference on September 3 that Nomura has been in China for over 40 years and the company has always been looking forward to opportunities in the Chinese market. At present, the market is full of expectations for the recovery of the Chinese economy, and also expects the Chinese government to launch more measures to boost the real estate industry and stimulate consumer demand.
Zhang Songbai, former member of the Party Committee and Vice President of the Agricultural Development Bank of China Hunan Branch, accepts disciplinary review and supervision investigation
According to the Discipline Inspection and Supervision Team of the Central Commission for Discipline Inspection and the National Supervisory Commission stationed at the Agricultural Development Bank of China, as well as the Discipline Inspection and Supervision Commission of Hubei Province, Zhang Songbai, former member of the Party Committee and Vice President of the Hunan Branch of the Agricultural Development Bank of China, is suspected of serious violations of discipline and law. He is currently undergoing disciplinary review by the Discipline Inspection and Supervision Team of the Central Commission for Discipline Inspection and the National Supervisory Commission stationed at the Agricultural Development Bank of China, as well as supervision and investigation by the Supervisory Commission of Xiaogan City.
Zhangjiakou Bank has been approved to acquire three rural banks and establish branch offices
According to the Hebei Financial Regulatory Bureau, the bureau has approved Zhangjiakou Bank's acquisition of Changli Jiayin Rural Bank, Lulong Jiayin Rural Bank, and Qinhuangdao Funing Jiayin Rural Bank, and has established Zhangjiakou Bank Changli Branch, Lulong Branch, and Qinhuangdao Funing Branch respectively. Prior to this, Zhangjiakou Bank had completed the absorption and merger of Wuqiang Jiayin Rural Bank, Fucheng Jiayin Rural Bank, and Gucheng Jiayin Rural Bank in 2022, and established branch offices.
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Market data
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Review: ChiNext Index opens low and rises 1.26%
As of the close on the 3rd, the Shanghai Composite Index fell 0.29%, the Shenzhen Component Index rose 1.17%, and the ChiNext Index rose 1.26%. The market fluctuated and differentiated throughout the day, with the Shenzhen Component Index and ChiNext Index rebounding. The Shanghai Composite Index briefly fell below 2800 points during trading, and high dividend stocks such as banks collectively adjusted. On the market, electronic cigarette concept stocks performed strongly, with Jiyou Shares, Dongfeng Group, Shunhao Shares, and Xiaosong Shares hitting the daily limit up. The ST sector fluctuated and rose, with more than 30 stocks including * ST Jingfeng, * ST Furun, * ST Dayao, and ST Gaohong hitting the limit up. Huawei's concept stocks were active during the trading session, with Tianyuan Dike, Tuowei Information, Shenzhen Huaqiang, Kesen Technology and others hitting the daily limit up. The concept stocks of power batteries briefly rose, with Nandu Power, Jin Yinhe, and Vico Technology hitting the daily limit up. In terms of decline, high dividend stocks such as banks collectively adjusted, with China General Nuclear Corporation falling more than 6% and Agricultural Bank of China falling more than 4%. Overall, individual stocks have risen more than fallen, with over 3900 stocks rising in the entire market. The trading volume of the Shanghai and Shenzhen stock markets today was 580.6 billion yuan, a decrease of 125.1 billion yuan from the previous trading day. In terms of sectors, sectors such as China Shipbuilding, Huawei Euler, electronic cigarettes, and ST saw the highest gains, while sectors such as banking, insurance, oil and gas, and highways saw the highest declines.
The financing balance of the two cities increased by 2.037 billion yuan
As of September 2nd, the financing balance of the Shanghai Stock Exchange was reported at 728.468 billion yuan, an increase of 1.459 billion yuan from the previous trading day; The financing balance of the Shenzhen Stock Exchange was reported at 6530.33 billion yuan, an increase of 578 million yuan from the previous trading day; The total amount of the two cities was 1381.501 billion yuan, an increase of 2.037 billion yuan from the previous trading day.
The Hang Seng Index in Hong Kong closed down 0.23%, while the Hang Seng Technology Index rose 0.29%
The Hang Seng Index in Hong Kong closed down 0.23%, while the Hang Seng Technology Index rose 0.29%. Shengneng Group fell by over 98%, while China Merchants Bank and China Taiping Insurance fell by over 3%; Country Garden's services have increased by over 5%, while Vanke's has increased by over 3%.
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Company News
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Tesla China Responds to Next Year's Production of Six seater Model Y: False News
According to Interface News, there is market news today that Tesla plans to start producing a six seater version of the Model Y domestically by the end of 2025. Tesla China responded by stating that the information is' false '.
HNA Capital Group plans to transfer its controlling stake in HNA Futures
According to information from the Beijing Property Rights Exchange, HNA Futures' equity is under comprehensive investment promotion on the exchange, with HNA Capital Group holding 91.09% of the shares as the transferor. The latter hopes to release its controlling stake in HNA Futures through this equity transfer. The investment conditions are clear, and the number of potential partners to be solicited for this equity transfer is not less than 3. Among them, the actual paid up capital of intended strategic investors shall not be less than 100 million yuan; Net assets shall not be less than 50% of paid in capital, and contingent liabilities shall be less than 50% of net assets; Net capital not less than 500 million yuan; If net capital or similar indicators are not applicable, the net assets shall not be less than 1 billion yuan.
Toyota Chairman reportedly visits Seoul to discuss hydrogen vehicle cooperation with Hyundai Chairman
Toyota Chairman Akio Toyoda will fly to Seoul in late October to meet with Hyundai Motor Group Chairman Euisun Chung to discuss business cooperation, including hydrogen fuel vehicles. Sources have revealed that Toyota's chairman may arrive in Seoul on October 24th for a three-day visit, and a closed door meeting with the chairman of Hyundai Motor Group may be scheduled for October 25th.
Civil Aviation Administration intervenes in investigation of Cathay Pacific A350 engine issues
According to First Financial, after Cathay Pacific announced that some A350 aircraft fleets were temporarily grounded due to engine issues and waiting for replacement parts, a domestic airline management revealed to reporters that the Civil Aviation Administration of China has intervened in the relevant investigation to assess whether A350 aircraft in mainland China need to be inspected. According to the reporter's understanding, there are currently four airlines operating 78 Airbus A350 aircraft in mainland China. Although all of them are equipped with Rolls Royce engines, the specific models of Rolls Royce engines selected by different airlines also vary.
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